[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-113403-en":3,"doc-seo-113403-105":29,"detail-sidebar-cat-0-en-105":91},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":13,"seo_description":14,"update_tm":27,"read_time":28},113403,1099514067438,"River Wang","https://ap-avatar.wpscdn.com/avatar/100002539ee87300030?x-image-process=image/resize,m_fixed,w_180,h_180&k=1780474512215547542",8,"Research & Report","Design for Impact - A State Aid Evaluation in Romania","Evaluates Romania’s state aid architecture across multiple schemes using a stepwise framework that links program design to measurable evaluation questions and result indicators. The assessment covers mechanisms supporting access to finance for MSMEs, regional development and job creation, and upgrades in R&D&I, followed by empirical analysis of Romanian counter-guarantee and ministry-led schemes. Conclusions synthesize implications for future state aid design, implementation, and impact evaluation lessons for policy improvement.","Design for Impact  \nA State Aid Evaluation for Romania  \nGeorgiana Pop, Mariana Iootty, Miriam Bruhn, and Claudia Ruiz Ortega  \nINTERNATIONAL DEVELOPMENT IN FOCUS  \nDesign for Impact  \nA State Aid Evaluation in Romania  \nGEORGIANA POP, MARIANA IOOTTY, MIRIAM BRUHN, AND CLAUDIA RUIZ ORTEGA  \n© 2021 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW, Washington, DC 20433  \nTelephone: 202-473-1000; [Internet: www.worldbank.org](Internet: www.worldbank.org)[ ](Internet: www.worldbank.org)Some rights reserved  \nThis work is a product of the staff of The World Bank with external contributions. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors, or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries.  \nNothing herein shall constitute or be considered to be a limitation upon or waiver of the privileges and immunities of The World Bank, all of which are specifically reserved.  \nRights and Permissions  \nThis work is available under the Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO) [http://](http://)[ ](http://)[creativecommons.org/licenses/by/3.0/igo. Under the Creative Commons Attribution license](creativecommons.org/licenses/by/3.0/igo. Under the Creative Commons Attribution license), you are free to copy, distribute, transmit, and adapt this work, including for commercial purposes, under the following conditions:  \nAttribution—Please cite the work as follows: Pop, Georgiana Mariana Iootty, Miriam Bruhn, and Claudia Ruiz Ortega. 2021. Design for Impact: A State Aid Evaluation in Romania. Washington, DC:  \nWorld Bank. doi:10.1596/978-1-4648-1703-8. License: Creative Commons Attribution CC BY 3.0 IGO Translations—If you create a translation of this work, please add the following disclaimer along with the attribution: This translation was not created by The World Bank and should not be considered an official World Bank translation. The World Bank shall not be liable for any content or error in this translation.  \nAdaptations—If you create an adaptation of this work, please add the following disclaimer along with the attribution: This is an adaptation of an original work by The World Bank. Views and opinions expressed in the adaptation are the sole responsibility of the author or authors of the adaptation and are not endorsed by The World Bank.  \nThird-party content—The World Bank does not necessarily own each component of the content contained within the work. The World Bank therefore does not warrant that the use of any thirdparty-owned individual component or part contained in the work will not infringe on the rights of those third parties. The risk of claims resulting from such infringement rests solely with you. If you wish to re-use a component of the work, it is your responsibility to determine whether permission is needed for that re-use and to obtain permission from the copyright owner. Examples of components can include, but are not limited to, tables, figures, or images.  \nAll queries on rights and licenses should be addressed to World Bank Publications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; [e-mail: pubrights@worldbank.org](e-mail: pubrights@worldbank.org).  \nISBN: 978-1-4648-1703-8  \nDOI: 10.1596/978-1-4648-1703-8  \nCover image: World Bank / Veronica Elena Gadea  \nCover design: Debra Naylor / Naylor Design Inc.  \nContents  \nAcknowledgments vii  \nExecutive Summary ix  \nAbbreviations xxiii  \nCHAPTER 1 Introduction 1  \nNotes 7  \nReferences 8  \nCHAPTER 2 Description of State Aid Schemes (Step 1) 9  \nDe minimis scheme to incentivize access to fi","cbCaibo85ZmxwTkr","https://ap.wps.com/l/cbCaibo85ZmxwTkr","pdf",4120348,1,137,"English","en",105,"# Contents\n## Executive Summary\n## Abbreviations\n## CHAPTER 1 Introduction\n## Notes\n## References\n## CHAPTER 2 Description of State Aid Schemes (Step 1)\n## De minimis scheme to incentivize access to finance for MSMEs (the RCG scheme)\n## State aid scheme to support regional development and job creation (the MPF scheme)\n## State aid scheme to support the upgrade and modernization of the R&D&I (the MEF scheme)\n## Notes\n## References\n## CHAPTER 3 Definition of Evaluation Questions and Result Indicators (Step 2)\n## Dataset\n## Evaluation Questions and Result Indicators\n## Notes\n## References\n## CHAPTER 4 Empirical Assessment (Step 3)\n## The Romanian Counter-Guarantee Fund Scheme\n## The Ministry of Public Finance Scheme\n## The Ministry of European Funds Scheme\n## Notes\n## References\n## CHAPTER 5 Conclusions: Implications for State Aid Design and Implementation, and Lessons Learned (Step 4)\n## Results\n## Key lessons for future impact evaluations\n## Notes\n## References\n## Appendix A Selection Criteria for the MEF Scheme (Scoring Phase)\n## Appendix B State Aid Intensity for the Ministry of European Funds Scheme\n## Appendix C List of Variables in the Business Registry Dataset\n## Appendix D List of Variables in the Structural Business Survey dataset\n## Appendix E Methodology Applied to Estimate Markups and Revenue-Based Total Factor Productivity\n## Appendix F Romanian Counter Guarantee Scheme: Firms Included in the Analysis (Auxiliary Tables)\n## Appendix G Identification Strategy of the Romanian Counter Guarantee Scheme Evaluation: Robustness Checks\n## Appendix H Impact of the Romanian Counter-Guarantee Fund Scheme: Robustness Checks (Auxiliary Tables)\n## Appendix I Ministry of Public Finance Scheme: Firms Included in the Analysis (Auxiliary Tables)\n## Appendix J Identification Strategy of the Ministry of Public Finance Scheme Evaluation: Robustness Checks\n## Appendix K Ministry of European Funds Scheme: Firms Included in the Analysis (Auxiliary Tables)\n## Appendix L Identification Strategy of the Ministry of European Funds Scheme Evaluation: Robustness Checks","[{\"question\":\"What is the overall evaluation approach used for Romania’s state aid programs?\",\"answer\":\"The document applies a stepwise evaluation framework that defines evaluation questions and result indicators, then conducts empirical assessment for each scheme. It links program design to measurable outcomes and culminates in implications for future design and implementation.\"},{\"question\":\"Which state aid schemes are described in the first evaluation step?\",\"answer\":\"It details a de minimis scheme to incentivize access to finance for MSMEs (RCG), a scheme to support regional development and job creation (MPF), and a scheme to support upgrades and modernization of R\\u0026D\\u0026I (MEF).\"},{\"question\":\"How does the empirical assessment in Step 3 treat the main schemes?\",\"answer\":\"The empirical assessment evaluates the Romanian counter-guarantee fund scheme and the ministry-led schemes for public finance and European funds. It includes results and robustness checks to test identification strategies.\"}]",1784504005,345,{"code":4,"msg":30,"data":31},"ok",{"site_id":24,"language":23,"slug":32,"title":13,"keywords":33,"description":14,"schema_data":34,"social_meta":86,"head_meta":88,"extra_data":90,"updated_unix":27},"design-for-impact-a-state-aid-evaluation-in-romania","",{"@graph":35,"@context":85},[36,53,68],{"@type":37,"itemListElement":38},"BreadcrumbList",[39,43,47,50],{"item":40,"name":41,"@type":42,"position":20},"https://docshare.wps.com","Home","ListItem",{"item":44,"name":45,"@type":42,"position":46},"https://docshare.wps.com/document/","Document",2,{"item":48,"name":12,"@type":42,"position":49},"https://docshare.wps.com/document/research-report/",3,{"item":51,"name":13,"@type":42,"position":52},"https://docshare.wps.com/document/design-for-impact-a-state-aid-evaluation-in-romania/113403/",4,{"url":51,"name":13,"@type":54,"author":55,"headline":13,"publisher":57,"fileFormat":60,"inLanguage":23,"description":14,"dateModified":61,"datePublished":62,"encodingFormat":60,"isAccessibleForFree":63,"interactionStatistic":64},"DigitalDocument",{"name":9,"@type":56},"Person",{"url":40,"name":58,"@type":59},"DocShare","Organization","application/pdf","2026-07-20","2026-07-19",true,{"@type":65,"interactionType":66,"userInteractionCount":20},"InteractionCounter",{"@type":67},"ViewAction",{"@type":69,"mainEntity":70},"FAQPage",[71,77,81],{"name":72,"@type":73,"acceptedAnswer":74},"What is the overall evaluation approach used for Romania’s state aid programs?","Question",{"text":75,"@type":76},"The document applies a stepwise evaluation framework that defines evaluation questions and result indicators, then conducts empirical assessment for each scheme. It links program design to measurable outcomes and culminates in implications for future design and implementation.","Answer",{"name":78,"@type":73,"acceptedAnswer":79},"Which state aid schemes are described in the first evaluation step?",{"text":80,"@type":76},"It details a de minimis scheme to incentivize access to finance for MSMEs (RCG), a scheme to support regional development and job creation (MPF), and a scheme to support upgrades and modernization of R&D&I (MEF).",{"name":82,"@type":73,"acceptedAnswer":83},"How does the empirical assessment in Step 3 treat the main schemes?",{"text":84,"@type":76},"The empirical assessment evaluates the Romanian counter-guarantee fund scheme and the ministry-led schemes for public finance and European funds. It includes results and robustness checks to test identification strategies.","https://schema.org",{"og:url":51,"og:type":87,"og:title":13,"og:site_name":58,"og:description":14},"article",{"robots":89,"canonical":51},"index,follow",{"doc_id":7,"site_id":24},{"code":4,"msg":5,"data":92},[93,97,101,105,110,115,120,123,128,131,135],{"id":20,"doc_module":4,"doc_module_name":45,"category_name":94,"show_sort_weight":95,"slug":96},"Story & Novel",90,"story-novel",{"id":46,"doc_module":4,"doc_module_name":45,"category_name":98,"show_sort_weight":99,"slug":100},"Literature",80,"literature",{"id":52,"doc_module":4,"doc_module_name":45,"category_name":102,"show_sort_weight":103,"slug":104},"Exam",70,"exam",{"id":106,"doc_module":4,"doc_module_name":45,"category_name":107,"show_sort_weight":108,"slug":109},5,"Comic",60,"comic",{"id":111,"doc_module":4,"doc_module_name":45,"category_name":112,"show_sort_weight":113,"slug":114},6,"Technology",50,"technology",{"id":116,"doc_module":4,"doc_module_name":45,"category_name":117,"show_sort_weight":118,"slug":119},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":45,"category_name":12,"show_sort_weight":121,"slug":122},30,"research-report",{"id":124,"doc_module":4,"doc_module_name":45,"category_name":125,"show_sort_weight":126,"slug":127},9,"Religion & Spirituality",20,"religion-spirituality",{"id":126,"doc_module":4,"doc_module_name":45,"category_name":129,"show_sort_weight":126,"slug":130},"World Cup","world-cup",{"id":132,"doc_module":4,"doc_module_name":45,"category_name":133,"show_sort_weight":132,"slug":134},10,"Lifestyle","lifestyle",{"id":136,"doc_module":4,"doc_module_name":45,"category_name":137,"show_sort_weight":106,"slug":138},19,"General","general"]